OPEL Technologies Inc.
TSX VENTURE : OPL

OPEL Technologies Inc.
OPEL Solar Inc.

OPEL Solar Inc.

February 09, 2012 15:32 ET

OPEL Technologies Inc.-Director Resignation

SHELTON, CONNECTICUT and TORONTO, ONTARIO--(Marketwire - Feb. 9, 2012) - OPEL Technologies Inc. ("OTI") (TSX VENTURE:OPL) and OPEL Solar Inc. ("OSI") (collectively "OPEL" or "the Company"), a leading global supplier of solar tracker systems and other solar related products, and a semiconductor device and process developer, announced today the resignation of Dr. Samuel Peralta from the Board of Directors. Dr. Peralta advised the Company that he has had to take on expanded responsibilities on the Boards of other companies, which responsibilities are incompatible with remaining on the Board of OPEL. Dr. Peralta has served on the Board of Directors of OTI since 2007 and of OSI since 2005. He has also served the Company as Chairman of Corporate Governance Committee since June 2008. We wish Sam well in his future endeavors.

In his letter of resignation, Dr. Peralta stated, "For the record, my confidence remains unshaken in the abilities of POET's core team, and in the potential of OPEL's POET platform to make significant inroads in integrated systems. I wish OPEL success in this pursuit."

Management and the Board are reviewing potential candidates to fill the vacancy created by Dr. Peralta's resignation, and the Board will be announcing its decision next week.

About OPEL Technologies Inc., OPEL Solar, Inc. and ODIS Inc.

With operations in Shelton, CT and head office in Toronto, Ontario, Canada, the Company, through OPEL Solar, Inc., designs, manufactures and markets dual- and single-axis trackers and other solar related products for CPV and PV systems for energy applications worldwide. The Company, through ODIS Inc., a U.S. company, designs III-V semiconductor devices for military, industrial and commercial applications, including infrared sensor arrays and ultra-low-power random access memory. The Company has 35 patents issued and 16 patents pending in PV systems technologies and for its semiconductor POET process. The POET process enables the monolithic fabrication of integrated circuits containing both electronic and optical elements, with potential high-speed and power-efficient applications in devices such as servers, tablet computers and smartphones. OPEL's common shares trade on the TSX Venture Exchange under the symbol "OPL". For more information about OPEL, please visit our websites at www.opelsolar.com; and www.opeltechinc.com; and for ODIS at www.odisinc.com.

Dated: February 9, 2012

ON BEHALF OF THE BOARD OF DIRECTORS

Michel Lafrance, Secretary

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • OPEL Technologies Inc.
    Patricia Venneri Agudow
    Vice President, Public Relations
    +1 (203) 612-2366 x2612
    p.agudow@opelinc.com